Limelight magazine calls in liquidators

Classical music and arts magazine Limelight is calling in the liquidators after cancelling its March edition and laying off its six employees.

Shocked staff were told on Tuesday afternoon of the move by publisher Andrew Batt-Rawden, who took over the title in 2013.

Andrew Batt-Rawden, left, and Limelight editor-at-large Clive Paget.

"I bought the magazine as a starving composer in my late 20s and spent four years trying to improve the magazine's position and build a business and that is a very expensive thing," he said.

"The magazine has improved a lot financially, we are reaching a big audience across Australia and a few internationally, but my personal situation was that I simply couldn't continue the monthly profit and loss. I got to the point where I couldn't take another refinancing, so I decided to take some drastic action."

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However, Batt-Rawden said he was in talks with various potential purchasers and appeared cautiously optimistic a buyer could be found.

"I hesitate to be 100 per cent certain, but I can say I am having some very positive conversations," he said.

Jo Litson, who took over as editor late last year, said staff continued to believe passionately in the magazine.

"Limelight has been occupying an increasingly important niche given its intelligent, informed, in-depth, entertaining arts reporting," she said.

"Were it to be fold, I think a valuable cultural resource will be lost and arts coverage in Australia would be the poorer for it. So we are all very much hoping that a new publisher will be found to ensure Limelight's future."

The magazine, which has a monthly circulation of about 8000, began life in 1976 as an ABC publication, 24 Hours. In 2006 it was taken over by Haymarket Media, until that company exited the Australian market in 2013 and Batt-Rawden took over.